GCC to review single currency deadline

31 March 2008
The GCC will review whether the 2010 deadline for a single currency is achievable at a meeting in Oman in December, according to secretary general Abdulrahman bin Hamad al-Attiyah.

“The timetable will be evaluated this year and a report given at the forthcoming GCC summit,” says al-Attiyah. “Then we will decide whether to stick to the 2010 deadline.”

He claims that all the member countries remain committed to the single currency despite speculation that the weakening dollar and inflation problems have reduced the political will to implement a single currency.

Speaking in Abu Dhabi, he says the GCC has also completed its initial studies on a projected nuclear programme for the region, and will now begin more detailed work.

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